Village board OKs budget

T he village Board of Trustees officially approved the 2012-13 budget during a meeting held last week.

The budget calls for a 1.5 percent increase in the tax levy, the amount of money it collects through taxes. The tax levy increased by 4.4 percent last year.

The current tax rate is $17.67 per $1,000 of assessed property value and the new rate is $17.87 per $1,000 of assessed property value, an increase of 20 cents.

In order to combat $38,000 in increased employee pension contributions, the village used $80,000 from the appropriated fund balance, an increase of $15,000 over last year.

A mild winter and an increase of more than $600,000 in assessments saved the village from having to dip further into its fund balance or increasing tax rates more.

Expenditures also decreased by $183,860 compared to last year and every department came in at or under budget this year. The village also earned additional revenue by selling scrap metal from an old waterline that is no longer in use.

Water rates are also slated to increase by 10 percent because of increased costs to treat water and uncollected revenue from water users residing outside the village.

Officials have begun efforts to collect back money from users, and if those efforts are successful, rates may increase by less than 10 percent.

Sewer rates, which generally correlate with water rates, will remain unchanged.

Overall the budget calls for $1,842,033 in appropriations, up from $1,806,794 (an increase of $35,238) last year; and $173,878 in non-tax revenues (an increase of $929).

A public hearing on the budget was held at the beginning of the month but no one spoke out in objection to the budget and the board unanimously approved the budget last Tuesday.

Copies of the budget are available upon request at the village offices.

In other matters, the board received $6,214 in sales tax from the county for the first quarter of 2012.

Jim Allen, village forester, also told the board a timber harvesting project on the village’s Pine Lake property has begun.

The board also lifted the winter parking ban.

The next meeting will be held at 6 p.m. on Tuesday, May 1.

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